(Optional) Interview with Kat Taylor

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Business Strategies for Social Impact

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University of Pennsylvania

Business Strategies for Social Impact

109 notes

Cours 4 sur 4 dans Specialization Business Strategies for A Better World

When is it good business practice to invest for social good? What are the most innovative and effective business strategies for developing positive social impact around the world? Designed by renowned Wharton professors Katherine Klein and Chris Geczy to help individuals, organizations, and investors bring about societal change, this course introduces the fundamentals of impact investing, and developing a business strategy that drives social impact. You’ll learn how to become a leader who cultivates purpose and inspires change, measure societal impact through evidence-based models, and invest in ventures effectively and meaningfully. By the end of this course, you’ll have a deep understanding of the realities of leading an organization with purpose, and be able to build successful strategies that bring impactful change to the world.

À partir de la leçon

Module 1: Purpose-Driven Leadership

In this module, you’ll learn how to define your purpose and develop a plan to cultivate purpose for your organization. You’ll gain a deep understanding of the critical importance of purpose-driven leadership in a successful organization and why businesses can and should pursue a larger social or environmental purpose. You'll also analyze the five models of social purpose, from generous contributors to impact investors. Through close examination of case studies such as Daily Table and TOMS shoes, you’ll learn how to test your assumptions and find the winning situation for your investors, employees, and customers. By the end of this module, you’ll have a more clearly defined understanding of the purpose your organization wants to pursue and how to prepare for successful implementation.

Introduction5:17

The Role of Business is Changing14:14

Cultivate Your Purpose8:53

(Optional) Interview with Derek Handley4:59

(Optional) Interview with Kyle Zimmer: Part 12:40

Test Your Assumptions11:48

Find the Win-Win9:27

(Optional) Interview with Chad Dickerson: Part 16:41

(Optional) Interview with Bobby Turner1:29

(Optional) Interview with Kyle Zimmer: Part 28:09

Bring it Home11:54

(Optional) Interview with Chad Dickerson: Part 23:10

(Optional) Interview with Kat Taylor4:31

(Optional) Interview with Jostein Solheim1:03

(Optional) Interview with Kyle Zimmer: Part 32:36

Evaluate, Revise, and Renew13:12

Module Wrap-Up1:47

Rencontrer les enseignants

Katherine Klein
Edward H. Bowman Professor of Management
The Wharton School
Christopher Geczy
Adjunct Professor of Finance
Fianance

You lead a triple bottom line business as we've been discussing.

In what ways is leading

a triple bottom line business more difficult than leading a business that has

a more singular focus and are there ways in which is less difficult

than leading a business with a singular focus on profit?

Yeah. I am sort of a half glass full girl.

So, I think it's more

complex because it's an optimization model not a maximization model,

but I don't have a categorical mind.

It's very hard for me to focus because everything is related to me.

So, I prefer an optimization model and I

think it's more reflective of reality that in essence

if you put a maximization model into the world you're solving for one outcome that,

that isn't actually truly sustainable in the world that we know.

I think it's interesting diversity

and optimization are both perceived to be harder to manage,

more complex, but they lead to better decisioning.

I think the studies are starting to show this.

Can you give an example of

what that might mean in practice optimization

and diversity and how it might influence your decision-making?

So, diversity and decision-making I think means that you're

inviting if not recruiting more points of view into the decisioning process.

You will in a sense have less common ground at the outset,

but you will have a richer consideration of

all the real factors that are influencing the best decision to make.

Optimization I think it's a harder process to

manage because you can't sort of take a linear approach.

Not explained this well, but I think there's just more things going on at

once that you have to keep track of and think of what the interdependencies are.

So, you're really trying to balance multiple goals or pursue

multiple goals and find the way that those are synergistic.

Yes and mutually interdependent.

But I think what we've done for a couple of 100 years now is insist on

a maximization model that isn't

eliminating those second order and interdependency effects.

It's just ignoring them.

So, we're opening the aperture of

the camera lens and looking at everything that's going on.

I keep a list called these things also happened because

just because you aren't noticing them doesn't mean they aren't happening.

Yeah. So, a final question then about you as a leader.

So, in this space given what your bank is trying to do,

given that it's a triple bottom line business you

are managing lots of different goals as we've described,

connecting with lots of different constituencies.

What do you think makes you particularly successful in doing

that so that if somebody else is aspiring

to this and thinking, "I don't know if I can do that."

Is there something that allows you to achieve this?

To begin with it's not me, it's us.

So, we believe that we do better together than apart.

That's sort of a basic philosophy of the bank and that means we manage better

when we listen to all the voices and when people have

agency and accountability and authority.

So, we're trying to delegate out decisioning not in a disorganized way,

but we're trying to get more heads into the process.

I often say let's put more different people in charge.

Let's get those new points of view,

let's get the diversity,

let's get the optimization minds in there and let's get as many as we can.

If I think about the world when we

sort of bemoan 7 billion people because it seems like such a challenge.

But that's 7 billion hidden geniuses and if we could find a way in

an organized way to harness all that mental energy and imagination and vision,

I think we'd actually make better choices and come up with

better institutions and so that's what we're trying to do on a mini scale.

That means a lot of emphasis on succession,

not the succession like if someone gets hit by a bus who's going to go over them,

but we're really trying to focus on how do we help people

develop their skills and opportunity such that highest that they could possibly be so,

they can take a large leading role in the organization.

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